AH Fingal CoCo: Management Co charges, can we apply to CoCo to take it over?

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Niallm

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I am in the process of purchasing an affordable home with fingal co council. This development has a management company charging the following
Apartments 1036
Houses 500
A solicitor has advised another purchaser that in a few years we can apply to the council to take over management of the road and this should reduce the management fees for the houses by a large amount

Has anyone any experience on this matter.
If yes how long did you have to wait for the council to take or and how much of a discount did the management company offer to you

I know management companies are a much disliked in today’s world but if this could stay focused on the above issue please
 
Re: Management companies and the council (fingal)

Niallm said:
A solicitor has advised another purchaser that in a few years we can apply to the council to take over management of the road and this should reduce the management fees for the houses by a large amount
Click to expand...
It's possible but may not be as simple as it seems since it needs the local authority to be willing to take the development in charge, a majority of the management company owners/shareholders to agree etc. etc. I would not necessarily bank on it happening if I was you. Get advice from your own solicitor rather than relying on hearsay.
 
I think this happened in Tyrrelstown however as a result the management company cut off all services with the council looking after large greens,roads etc. The communal garden areas around the apartments have now become really overgrown and messy looking. No one wants to take on the responsibility of looking after them as they technically don't belong to anyone. However there are a lot of rental properties there, it would probably be different if there were more owner occupiers as will be the case in Phibblestown.
 
Niallm said:
I am in the process of purchasing an affordable home with fingal co council. This development has a management company charging the following
Apartments 1036
Houses 500
A solicitor has advised another purchaser that in a few years we can apply to the council to take over management of the road and this should reduce the management fees for the houses by a large amount

Has anyone any experience on this matter.
If yes how long did you have to wait for the council to take or and how much of a discount did the management company offer to you

I know management companies are a much disliked in today’s world but if this could stay focused on the above issue please
Click to expand...

If this is Phibb Wood i dont think the council have any involvement in the mgt company, its direct sales process, the developer owns the mgt company
 
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